LCI Industries Announces Preliminary Second Quarter 2020 Sales Results

LCI Industries (NYSE: LCII), which, through its wholly-owned subsidiary, Lippert Components, Inc. ("LCI"), supplies, domestically and internationally, a broad array of highly engineered components for the leading original equipment manufacturers ("OEMs") in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced preliminary second quarter 2020 sales results.

For the second quarter 2020, the Company expects net sales in a range of $515 million to $530 million.

“Increased demand for RVs drove accelerated outdoor recreational products sales, which was well ahead of increasingly bullish expectations as we moved through the early part of the second quarter. In this post-COVID environment, RVs continue to be one of the safest ways for American families to take a vacation. Underscoring this strength, a recent RVIA survey reported that 46 million people intend on taking a trip in an RV in the next 12 months. As we have continued to say – our long-term fundamentals are strong, and our sales are being further propelled by the consumer’s desire to find safe, alternative outdoor activities that allow them to spend time with family but also practice social distancing. I am very proud of our teams, who have managed better than we could have ever expected to meet the heavy demand for RVs and boats through both the shutdown of our production facilities and the effective restart and ramp as state and local economies have begun to re-open,” commented Jason Lippert, LCI Industries’ President and Chief Executive Officer.

Mr. Lippert concluded, “While only time will tell the ultimate trajectory of the COVID-19 pandemic, I am confident that our industry will be even better positioned in a post-COVID world due to a more favorable environment for outdoor recreational products. Furthermore, as an organization, we continue to position LCI to deliver innovative products to our customers and drive long-term growth.”

About LCI Industries

From over 90 manufacturing and distribution facilities located throughout North America and Europe, LCI Industries, through its wholly-owned subsidiary, LCI, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries primarily by selling to retail dealers, wholesale distributors, and service centers. LCI’s products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. Additional information about LCI and its products can be found at www.lci1.com.